Miller Company's contribution format income statement for the most recent month is shown below: Total $ 231,000 132,000 Sales (33,000 units) Variable expenses Contribution margin Fixed expenses Net operating income Per Unit $ 7.00 4.00 $ 3.00 99,000 43,000 $ 56,000 Required: (Consider each case independently): 1. What is the revised net operating income if unit sales increase by 15%? 2. What is the revised net operating income if the selling price decreases by $1.10 per unit and the number of units sold increases by 17%? 3. What is the revised net operating income if the selling price increases by $1.10 per unit, fixed expenses increase by $5,000, and the number of units sold decreases by 3%? 4. What is the revised net operating income if the selling price per unit increases by 20%, variable expenses increase by 30 cents per unit, and the number of units sold decreases by 14%? 1. Net operating income 2. Net operating income 3. Net operating income 4. Net operating income Engberg Company installs lawn sod in home yards. The company's most recent monthly contribution format income statement follows: Percent of Sales 100% 40% 60% Amount $ 140,000 56,000 84,000 17,000 $ 67,000 Sales Variable expenses Contribution margin Fixed expenses Net operating income Required: 1. What is the company's degree of operating leverage? 2. Using the degree of operating leverage, estimate the impact on net operating income of a 23% increase in sales. 3. Construct a new contribution format income statement for the company assuming a 23% increase in sales. & Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Using the degree of operating leverage, estimate the impact on net operating income of a 23% increase in sales. (Do not round intermediate calculations. Round your percentage answer to 2 decimal places (i.e 0.1234 should be entered as 12.34).) Net operating income increases by 18.81 %